OFAC to Send Status Updates to Sanctions License Applicants

July 19, 2024 |Sanctions

The Office of Foreign Assets Control is updating its license application process and portal to alert applicants where their application is in the agency’s “processing timeline,” OFAC said July 18. After submitting an application, the applicant will now start receiving one of 10 “case statuses” as their application is reviewed:

Received
Guidance Issued
Returned Without Action
Pending Management Review
Pending Interagency Review
Pending Treasury Coordination
Pending with Applicant
Approved
Denied
Closed.

OFAC also said it’s making changes to its Licensing Division hotline, including by moving to “a callback-only system. These changes are aimed at helping the public access the information they need faster, reducing call wait times, and improving the overall customer experience.”